Swiss National Bank Boosts Stock Position in Graco Inc. $GGG

Swiss National Bank increased its holdings in shares of Graco Inc. (NYSE:GGG) by 6.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 486,600 shares of the industrial products company’s stock after buying an additional 31,100 shares during the period. Swiss National Bank’s holdings in Graco were worth $41,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in GGG. Mediolanum International Funds Ltd raised its position in Graco by 10.8% during the first quarter. Mediolanum International Funds Ltd now owns 152,679 shares of the industrial products company’s stock worth $12,663,000 after acquiring an additional 14,896 shares during the period. California Public Employees Retirement System increased its stake in shares of Graco by 8.1% during the first quarter. California Public Employees Retirement System now owns 315,832 shares of the industrial products company’s stock worth $26,735,000 after purchasing an additional 23,684 shares in the last quarter. Gallacher Capital Management LLC increased its stake in shares of Graco by 11.4% during the first quarter. Gallacher Capital Management LLC now owns 2,953 shares of the industrial products company’s stock worth $250,000 after purchasing an additional 303 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Graco during the 1st quarter worth about $208,000. Finally, Aware Super Pty Ltd as trustee of Aware Super acquired a new position in shares of Graco during the 1st quarter worth about $8,871,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Insider Activity at Graco

In related news, Director Andrea Helen Simon acquired 1,240 shares of Graco stock in a transaction that occurred on Monday, April 27th. The shares were purchased at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the transaction, the director owned 1,240 shares in the company, valued at $99,857.20. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.18% of the company’s stock.

Graco Trading Up 1.2%

GGG opened at $73.99 on Thursday. The firm has a market capitalization of $12.28 billion, a PE ratio of 24.10, a PEG ratio of 2.36 and a beta of 0.93. Graco Inc. has a twelve month low of $72.51 and a twelve month high of $95.69. The firm’s 50-day moving average price is $74.97 and its 200 day moving average price is $82.71.

Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.10. Graco had a net margin of 22.96% and a return on equity of 18.66%. The company had revenue of $590.55 million during the quarter, compared to the consensus estimate of $608.06 million. During the same quarter in the prior year, the firm earned $0.75 EPS. Graco’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, analysts predict that Graco Inc. will post 3.1 earnings per share for the current fiscal year.

Graco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be given a $0.295 dividend. The ex-dividend date is Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.6%. Graco’s dividend payout ratio is 38.44%.

Analysts Set New Price Targets

Several research firms recently issued reports on GGG. Weiss Ratings cut Graco from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. Wolfe Research cut Graco from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Royal Bank Of Canada restated an “outperform” rating and issued a $92.00 target price (down from $95.00) on shares of Graco in a research report on Thursday, July 16th. DA Davidson reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Graco in a research note on Monday, April 27th. Finally, Robert W. Baird dropped their price target on Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Graco currently has a consensus rating of “Hold” and an average target price of $93.50.

Graco Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.